Inverse Correlation? WavesBtc vs Dash Btc

Taking a look at the waves btc chart, it looks like we are getting ready to begin the next wave of the uptrend. I’ve noticed an interesting correlation developing between the WavesBTC chart and the DashBtc price (in Orange). You can see that waves formed a bottom, bounced with strong volume , and made a swing high and printed a bearish divergence on the rsi before it pulled back. At the same time, DashBtc bounced off of a swing low with volume while Waves printed it’s local top. Now we see that Dash has recently made a similar move up to the waves move up during the Waves pullback. We can see hidden bullish divergence (with bullish divergence in lower time frames for wavesbtc ) in the macd and rsi while Dash is beginning to print a bearish divergence on shorter time frames near its swing high. I am pointing this out because it will be interesting to see if this correlation continues. Will we see Waves make another strong move up at the same time that Dash pulls back? These are the patterns I will be watching for to setup possible swing trades in the near term between the two altcoins and btc . Waves looks like a good short term long setup for now.

Komentar:

Nice bullish flag forming on the 1 hr chart